XML 45 R24.htm IDEA: XBRL DOCUMENT v3.24.3
Earnings Per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic earnings per share is computed by dividing net earnings attributable to TXNM by the weighted average number of common shares outstanding during the period. Diluted earnings per share was computed by dividing net earnings attributable to TXNM by the diluted weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other agreements to issue common stock were settled. TXNM applies the treasury stock method for restricted stock, the 2023 Forward Sale Agreements, and the 2024 Forward Sale Agreements. The if-converted method is applied in determining the potential dilutive effect of the conversion of outstanding Convertible Notes. For the three and nine months ended September 30, 2024, the Convertible Notes were excluded from the calculation of diluted EPS because the effects were antidilutive. Information regarding the computation of earnings per share is as follows:
Three Months Ended
Nine Months Ended
September 30,September 30,
2024202320242023
(In thousands, except per share amounts)
Net Earnings Attributable to TXNM
$131,202 $37,726 $226,441 $138,045 
Average Number of Common Shares:
Outstanding during period
90,200 85,835 90,200 85,835 
    Vested awards of restricted stock
330 254 306 257 
Average Shares – Basic
90,530 86,089 90,506 86,092 
Dilutive Effect of Common Stock Equivalents:
Restricted stock53 32 44 36 
2023 Forward Sale Agreements— 8 — 23 
2024 Forward Sale Agreements
22 — 2 — 
Average Shares – Diluted
90,605 86,129 90,552 86,151 
Net Earnings Per Share of Common Stock:
Basic$1.45 $0.44 $2.50 $1.60 
Diluted$1.45 $0.44 $2.50 $1.60